Common use of Debt to Worth Clause in Contracts

Debt to Worth. The Borrower will maintain as at the end of each fiscal quarter of the Borrower (commencing with December 31, 1997) on a consolidated basis a Leverage Ratio of not more than 0.75 to 1. As used herein, 'Leverage Ratio' means, as at any date when same is to be determined, the ratio of (x) the outstanding consolidated Adjusted Senior Debt of the Borrower and its Subsidiaries to (y) the Borrower's consolidated Capital Base at such date.

Debt to Worth. The Borrower will maintain as at the end of each fiscal quarter of the Borrower (commencing with its results as at December 31, 1997) on a consolidated basis a Leverage Ratio of not more than 0.75 1.0 to 1. As used herein, '"Leverage Ratio' " means, as at any date when same is to be determined, the ratio of (x) the outstanding consolidated Adjusted Senior Debt all Indebtedness of the Borrower and and/or its Subsidiaries then outstanding to (y) the Borrower's then consolidated Capital Base at such dateTangible Net Worth.

Debt to Worth. The Borrower will maintain as at the end of each fiscal quarter of the Borrower (commencing with December 31September 30, 19971998) on a consolidated basis a Leverage Ratio of not more than 0.75 1.0 to 1. As used herein, 'the "Leverage Ratio' means", as determined at any date when same is to be determineddate, means the ratio of (x) the outstanding consolidated Adjusted Senior Debt total Indebtedness of the Borrower and and/or any of its Subsidiaries Subsidiaries, taken on a consolidated basis, outstanding at such date to (y) the Borrower's then consolidated Capital Base at such dateTangible Net Worth of the Borrower and Subsidiaries.

Debt to Worth. The Borrower will maintain as at the end of each fiscal quarter of the Borrower (commencing with December 31its results as at September 30, 19971996) on a consolidated basis a Leverage Ratio of not more than 0.75 1.0 to 1. As used herein, '"Leverage Ratio' " means, as at any date when same is to be determined, the ratio of (x) the outstanding total consolidated Adjusted Senior Debt of the Borrower and and/or its Subsidiaries then outstanding to (y) the Borrower's then consolidated Capital Base at such dateof the Borrower and its Subsidiaries.

Debt to Worth. The Borrower will maintain as at the end of each fiscal quarter of the Borrower (commencing with December 31its results as at June 30, 1997) on a consolidated basis a Leverage Ratio of not more than 0.75 2.0 to 1. As used herein, '"Leverage Ratio' " means, as at any date when same is to be determined, the ratio of (x) the outstanding consolidated Adjusted Senior Debt of the Borrower and and/or its Subsidiaries then outstanding to (y) the Borrower's then consolidated Capital Base at such dateBase.

Debt to Worth. The Borrower will maintain maintain, as at the end of each fiscal quarter of the Borrower (commencing with December 31June 30, 1997) 2000), on a consolidated basis a Leverage Ratio of not more than 0.75 1.0 to 1. As used herein, '"Leverage Ratio' means", as determined at any date when same is to be determineddate, means the ratio of (x) the outstanding consolidated Adjusted Senior Debt total Indebtedness of the Borrower and its Subsidiaries then outstanding to (y) consolidated Tangible Net Worth of the Borrower's consolidated Capital Base at such dateBorrower and Subsidiaries.

Debt to Worth. The Borrower will maintain as at the end of each ------------- fiscal quarter of the Borrower (commencing with its results as at December 31, 19971996) on a consolidated basis a Leverage Ratio of not more than 0.75 1.0 to 1. As used herein, '"Leverage Ratio' " means, as at any date when same is to be determined, the ratio of (x) the outstanding consolidated Adjusted Senior Debt of the Borrower and and/or its Subsidiaries then outstanding to (y) the Borrower's then consolidated Capital Base at such dateTangible Net Worth.

Debt to Worth. The Borrower will maintain as at the end of each fiscal quarter of the Borrower (commencing with December 31its results as at June 30, 1997) on a consolidated basis a Leverage Ratio of not more than 0.75 1.25 to 1. As used herein, '"Leverage Ratio' means, as at any date when same is to be determined, " means the ratio of (x) the outstanding consolidated Adjusted Senior Debt Indebtedness of the Borrower and and/or its Subsidiaries to (y) the consolidated Tangible Net Worth of the Borrower's consolidated Capital Base at such date.